Major Japan trading houses focus more on seafood operations, Mitsubishi /Cermaq tieup part of trend
SEAFOODNEWS.COM [Nikkei Report] by HIROSHI SAGIMORI and YUKI HANAI Sept 25, 2014
TOKYO -- Major Japanese trading houses are moving more into the fishery product business as they look to profit from the increasing need to feed the world's population.
On Monday, Mitsubishi Corp. announced it would make a voluntary cash tender offer to buy 100% of the shares of Norway's Cermaq, the world's third-largest salmon farming and processing company, for up to 152 billion yen ($1.38 billion).
The deal was motivated by the surge in demand for seafood products, especially in emerging countries.
The move also would bring Mitsubishi a major step closer to establishing a sustainable marine product business that is not wholly reliant on wild fish. A Mitsubishi official said the trading house hoped to expand its marine products business by encompassing the entire process, from hatching eggs to sales.
Seafood is quickly becoming a major protein source for feeding the world...
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